Choice Map and the ability to track your financial goals
Let’s face it, financial health is a goal for all of us. Yet its definition varies based on our background, lifestyle, career path and more.
If you’re a Community Choice member, chances are you’ve heard about our new Choice Map financial planning program. In short, it gives you the peace of mind to pursue your passion and life goals without having to worry about financial insecurity, Plus, if something unforeseen happens, like job loss or an illness, the planning created in Choice Map can help you weather the proverbial storm.
Let’s get down to the details.
What is Choice Map?
It’s a free financial wellness service available to you that helps in making tough financial decisions to help you lead the life you desire. You’ll get started with a personal financial plan developed by a certified team member along with a full range of tools for self-tracking.
The goal behind Choice Map is to help members Save, Borrow, Simplify and Protect their money at different stages of their life in an easy-to-follow way.
What kind of tools are available?
Choice Map allows members to see their credit score and set savings targets for such expenses as a vacation, college education, new car and even retirement. A budget can be generated within a click of a button to see how much needs to be saved to meet this goal. It helps create realistic expectations while providing the discipline to help keep you on track. There’s also a range of educational resources that will help members make informed decisions.
What are some of the key lessons that Choice Map offers?
There are several tied to the four key pillars of the Choice Map program. In no particular order they include:
- Pay yourself first
- Plan for emergency funds if the unexpected occurs
- Set near-term and long-term goals
- Automate your finances as best as possible (i.e., saving, paying monthly bills)
- Monitor your credit score for accuracy
…just to name a few. But members will learn a few other things along the way!
Who at Community Choice can help me with my Choice Mapping?
Great question! More than 100 team members working at our 24 member centers around Michigan have taken a rigorous, six-month training course through the (CUNA) to become certified financial counselors; and they’ve also been certified in Community Choice’s uniquely simple Choice Map model. Any of these Credit Union National Association counselors can be a resource to you as you manage your financial goals with members of your household.
We’re confident that you’ll see positive results working with Choice Map quickly. One participant in our pilot program experienced a 40-point increase in their credit score simply by addressing things that can negatively impact their credit from missed payments, credit score mistakes, small collections and more.
Ready to get started?
Schedule your discovery conversation to begin your journey toward a comprehensive financial wellness plan.
Visit this blog often in the coming weeks for more information on the four pillars of the Choice Map program and how you can use them to support the lifestyle you want!